Expecting $EUR To Outperform $GBP | #ECB #BOE #forex #fibonacci
Friends,
PREDICTIVE/FORECASTING MODEL:
Predictive/forecasting model signals a nominal target attainment at TG-Lo = 0.73344, implying a high-probability reversal at this precise level. This target was defined today - There was no prior target defined at this level, so not a "Target Hit" announcement.
MARKET GEOMETRY:
The background geometry supporting this view is a 3-point line-up of a quasi-WW - Since the 1-3 and 2-4 Line are not strictly convergent, this pattern falls under one I have priorly defined as a alternate WW, or AWW - Geometric target rests at the level of AWW's point-4, or 0.87683.
FIBONACCI LEVEL:
The overall gist of price action is that of a bearish consolidation with multiple internal ZZ formations. This carries a high adherence to Fibonacci contractions of 0.618 and expansion of 1.618.
Looking at the contraction range, the 0.618 comes into close alignment with above geometric Point-4 of AWW, here at 0.88533 vs. 0.87683.
RSI INDICATOR:
Looking at the RSI-14, its historical, albeit taut line up at 17.45 with a prior nadir reached in mid July 2012 is calling for a probable rallying from here, adding further credence to the geometry and predictive model biases.
RELATIVE STRENGTHS:
On a comparative basis with other pairs or relative to the Dollar index itself, recent analyses are expecting further advances in the $EUR and $GBP relative to the $USD, and decline in $GBP relative to $AUD. Therefore, the relative strength expression of $EURGBP is net bullish, favoring $EUR over $GBP - See links below for recent analyses on $GBPAUD as well as expectation of a decline in $DXY and $USDollar:
$GBPAUD:
Daily analysis:
4-hour snap:
$DXY -
$USDollar -
OVERALL:
Convergence of Fibs, market geos in support of the predictive/forecasting model supports a rallying from this current technical base. Insight into related currencies also point to intrinsic forces in favor of a $EUR outperformance relative to $GBP.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.
PREDICTIVE/FORECASTING MODEL:
Predictive/forecasting model signals a nominal target attainment at TG-Lo = 0.73344, implying a high-probability reversal at this precise level. This target was defined today - There was no prior target defined at this level, so not a "Target Hit" announcement.
MARKET GEOMETRY:
The background geometry supporting this view is a 3-point line-up of a quasi-WW - Since the 1-3 and 2-4 Line are not strictly convergent, this pattern falls under one I have priorly defined as a alternate WW, or AWW - Geometric target rests at the level of AWW's point-4, or 0.87683.
FIBONACCI LEVEL:
The overall gist of price action is that of a bearish consolidation with multiple internal ZZ formations. This carries a high adherence to Fibonacci contractions of 0.618 and expansion of 1.618.
Looking at the contraction range, the 0.618 comes into close alignment with above geometric Point-4 of AWW, here at 0.88533 vs. 0.87683.
RSI INDICATOR:
Looking at the RSI-14, its historical, albeit taut line up at 17.45 with a prior nadir reached in mid July 2012 is calling for a probable rallying from here, adding further credence to the geometry and predictive model biases.
RELATIVE STRENGTHS:
On a comparative basis with other pairs or relative to the Dollar index itself, recent analyses are expecting further advances in the $EUR and $GBP relative to the $USD, and decline in $GBP relative to $AUD. Therefore, the relative strength expression of $EURGBP is net bullish, favoring $EUR over $GBP - See links below for recent analyses on $GBPAUD as well as expectation of a decline in $DXY and $USDollar:
$GBPAUD:
Daily analysis:
$DXY -
$USDollar -
OVERALL:
Convergence of Fibs, market geos in support of the predictive/forecasting model supports a rallying from this current technical base. Insight into related currencies also point to intrinsic forces in favor of a $EUR outperformance relative to $GBP.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.
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